The Making of Economic Society - Softcover

This volume surveys the development of the market society and its problems from antiquity to the present. Readers will get a familiarity with the history of our economic society and a sense of how our dominant institutions came into being in the first place. They will see the institutions, and the problems they create, as part of the ongoing process of our economic life.

With its roots in history and eyes on the future, this book gives readers a balanced perspective of why our economic society is the way it is and where it may be headed by tracing its development from the Middles Ages to the present. Showing that today's economic problems cannot be understood unless we have an understanding of how they first arose, it explores the catalytic role past economic trends and dynamics have played in creating the present challenges we face, and offers suggestions on how we may deal with them most effectively. Focuses on problems and challenges of capitalism after the Golden Age (1945-1973), examining why the age came to an end and how globalization and income inequalities have changed the nature of capitalism. Considers the prospects of capitalism, outlines the essential features of a capitalist system, and stresses that capitalism can take many forms. Explores the concept of institutions, paying particular attention to the relation between states and markets, and workers and employers.For economists.